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Umpqua CEO On Financial Pacific Leasing Purchase

Jul. 22, 2013 1:57 PM ET
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Internet, Long/Short Equity, Portfolio Strategy, Banks

Seeking Alpha Analyst Since 2009

Christopher "Kit" Menkin is of editor LeasingNews.org (http://www.leasingnews.org/), an internet trade publication for the finance/leasing industry. He has 46 years experience in the finance/leasing industry as well as being a founder of a commercial regional bank and serving on several company board of directors. He was a syndicated business columnist in news from Silicon Valley, California, for 12 commercial newspapers in the 1970's and early 1980's. Prior to getting into the financial business, he was a West Coast News Producer for ABC-TV News, Managing Editor KGO-TV News, San Francisco, California, and news editor at KFRC News, San Francisco, California. His three times a week news edition posted at www.leasingnews.org is read by over 175,000 in the trade and by related entities each month.

Ray Davis

Ray Davis, President and CEO, Umpqua Holdings Corp. (UMPQ) in his 2nd Quarter Conference Call, gave an idea of what to expect with their purchase of Financial Pacific Leasing, Federal Way, Washington

"This past quarter we, in fact, acted on one such opportunity, the acquisition of one of the premier equipment leasing companies in the country, Financial Pacific Leasing. This transaction announced in June officially closed on July 1st, 2013.

"As we've reported, this transaction comes to Umpqua with many positives, including immediate earnings accretion of at least 14%, an estimated 35 basis point improvement in our total net interest margin, another earning asset channel for Umpqua and a meaningful alternative for Umpqua clients and prospects for significant incremental growth as FinPac moves into more A and B lease paper production.

"We couldn't be more pleased with this new addition, which is led by an extremely knowledgeable team of professionals."

Seeking Alpha Transcript:

The Sale of Financial Pacific Leasing
to Umpqua Holdings Corporation


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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